The decision is likely to be a finely balanced one though, with expectations of the bank rate vote being 6-3 or 5-4 in favour of a rate cut. But what are traders pricing in for the decision currently? The OIS market shows that there is a ~61% probability priced in, with roughly 55 bps of rate cuts for the year.After the August decision, the BOE still has three meetings left for the remainder of 2024. That being in September, November, and December. So, there is still time to fit in the supposed two rate cuts priced in by traders at the moment.Taking that into consideration, it might not matter too much if the BOE cuts this week or in September. That especially if they do send a more dovish s
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